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Heavy digging ahead
US GDP: The 1 per cent drop in second-quarter US GDP makes this the countrys worst recession since World War II. Government stimulus spending helped a bit, but personal savings are still depressed and the federal deficit is huge. The need to correct those imbalances could make for a very slow recovery. The 3.7 per cent peak to trough decline so far beats the 3.2 per cent drop in the 1973-75 recession. However it falls short of the 5 per cent decline of 1937-38, let alone the 25 per cent drop of the Great Depression. There were some admittedly small encouraging signs. Government intervention helped in two ways. Direct increases in federal and state spending roughly halved the decline. And tax rebates added an annualised $113 billion to personal income, increasing the savings rate and presumably boosting consumption somewhat.
Business Standard

Singapore`s OCBC Bank posts profit rise of 10 per cent - Earth Times
Singapore - Singapore's Oversea-Chinese Banking Corp Ltd (OCBC Bank) said Monday that the worst might be over for the global banking sector as it posted a 10-per-cent rise in net profit for the second quarter. Net profit in the period from March to J...
NewsRack

A Primer on Back-to-School Shopping
Though it probably doesn't gladden the hearts of kids, the back-to-school shopping season tends to give the economy an annual boost. This summer, amid tentative signs that the worst of the recessio...
Big News Network

American Pain Society Urges FDA to Modify Restricted Distribution Program
In a letter to the Food and Drug Administration, the american Pain Society (APS) petitioned the agency, on behalf of the terminally ill and their families, to modify a restricted distribution program for the newly approved pain medication Onsolis, a short-acting product that delivers fentanyl through the mouth's mucous membranes.
OHS Online

Police hunt killer of Israel gays
Israeli police search for a gunman who killed two people at a gay support centre, in the country's worst suspected such crime.
BBC

Swine flu alert - have you inoculated your finances?
Worse may be on way, so act now to limit impact on your pocket, writes Teresa Hunter
Scotsman

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Archived "business - coverage ill" news stories.

Available news archives.

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9th of September 2009 - Interview of Feedzilla's founder at the IFA in Berlin. [More]

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